Minerva Set for Convert Pricing

Minerva Set for Convert Pricing

Brazil Equity

Brazilian meatpacker Minerva is expected to announce today the price for the sale of BRL300m ($190m) in 2015 convertible debentures following the closing of bookbuilding Tuesday. The company is looking at a reoffer price of between 97.00-103.00 of face value, with the interest rate and conversion price range already established. In what is being called the Brazilian market’s first-ever public sale of mandatorily convertible debentures, Minerva will pay interest at 100% of DI, with the minim

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